Why we love digital currency (and why you should too)

It’s no secret that we here at Qoin are believers in the potential of digital currency. What’s more, we think if you knew why we’re so excited, you would be too. 

Digital currency has opened countless doors for the world of finance and beyond. The benefits of digital currency seem endless! Read on to learn why we love digital currency, and why you should too.

Digital currency keeps you in control

Unless you’re recklessly storing your life savings in bags of cash under your mattress, you’re probably trusting private third parties to handle your money for you. That’s all well and good until you have to pay a fee at the ATM to hold your money in your hand, or your assets are seized after an accident or emergency sets you back on your loan payments.

With digital currency, nobody but you is in possession of your money. This means that you never need to cede or share an ounce of control over it, which is a level of financial independence we can all get behind.

Safe and secure

Every digital currency transaction is stored on a public ledger and its owners’ names are encrypted. This means the legitimacy of every transaction is virtually indisputable. What’s more, these encryptions are linked to each previous transaction, forming a ‘transaction blockchain’, which is checked and verified against each new transaction. Hacking this system would require that each link in the chain be individually decrypted, which ultimately means that fraud and identity theft are essentially impossible. Both you and your money are safe with digital currencies.

You’re not just protected within the blockchain, either. Digital currency shores up your financial position wherever you are in the world. Thanks to its seamless, global transaction potential, digital currency empowers you to act on your financial instincts faster!

Driving blockchain innovation

Digital currency is the face of blockchain technology, a breakthrough with the potential to change the world. The blockchain as we know it is now over ten years old. So far, the peer-to-peer network has been utilised primarily as a disrupting force in the finance industry, but blockchain can positively impact many industries.

By consolidating the computational power of an entire network of computers, blockchain can unleash the power of our collective technology to empower supply chains, healthcare, and a broad range of other services and systems. Someday, we’ll look back on a world transformed by the blockchain and remember that digital currency gave rise to it all!

Changing how we think about money

What do you think of when you think of money? Cash, banks, credit, conversion rates, and federal reserves don’t make for very romantic word association, but the truth is the very definition of token currency hasn’t changed much in the past century. One thing is certain, however—for a currency to have any value, people must have trust in it. People tend to trust less that which they do not understand. They may also prefer to know who is in charge.

For that reason, the dawn of digital currency is exciting, and, for some, a bit daunting. The decentralised nature of digital means nobody is pulling the strings. Is that a good thing? We think it is, but perhaps the conversation is more important. By forcing us to think about what money really is, digital currency may also have us thinking about what money could be.

The Qoin we love the most

Digital currency continues to add value to our lives and our businesses in exciting new ways, and Qoin is the latest, greatest example! Backed by the goods and services of a network of participating merchants, Qoin creates new avenues for businesses to connect with customers and expand their reach. Contact us today to learn more.

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